I don't mind a negative view either Len, provided I can...

Originally posted by Len

I don't mind a negative view. I have a much longer time frame for MMI stock.
Here's my calculation on why I think the company is still okay.
It has an Operating margin of A$8.52/t.
Therefore 3.m wmt * A$8.52/t = $A25,560,000 / Share Issue 1.38 billion = A$0.0185 per share operating margin <-- estimated profit per share 2019 12 month?
This is my estimate for 2019. What they do with the profit, pay down debt and buy more equipment, is still not clear to me. But is seems that they will have money to improve the company. The 17 year mine life gives a lot of time to grow. The lower share price is a buying opportunity if they can get loading speeds up.
Does anyone see a problem with my estimation? Just want to double check it.
Thanks.

I don't mind a negative view either Len, provided I can understand it. I understand exactly what SaintKitts is saying and fair enough. The others have no fundamental understanding of the business IMO and clearly have other motives. Your estimation makes sense to me but of course the potential negatives that SaintKitts alludes to are the unknowns. I do remember Simon Finnis saying in one of his recent presentations that he was of the view that MMI could expand without the need for a further capital raising and would be able to do it through cashflow and debt. That fits in with your estimation as well. There is no question that MMI could do with some good news though. I note from other shares I hold that the arrival of the so called unbiased non holders en masse relying on charts, so called bad news and over hanging debt fears is often a buy signal. Funny about that.